Despite facing insolvency proceedings, embattled real estate firm Supertech Ltd has managed to hand over possession of 6,121 apartments to its customers over the last three years. The delivery spans across various housing projects and is executed under the supervision of a resolution professional assigned by the National Company Law Tribunal (NCLT).
The NCLT had admitted Supertech Ltd to the Corporate Insolvency Resolution Process in March 2022. However, an appellate tribunal ordered that all projects, except Eco Village-II, be completed by the company’s previous management under interim supervision. In a new development, Supertech’s former chairman, RK Arora, announced plans to deliver 1,000 more flats soon.
Recently, Supertech,…